On behalf of private clients, FHP Property Consultants are pleased to confirm the letting of 4 Riverside Court, Pride Park, Derby to L.E.A.D. IT Services Ltd.

The property occupies an excellent position on Pride Park off Riverside Way and comprises a two storey detached office building with parking.  The accommodation provides a mix of cellular and open plan offices set across two floors comprising 391m² (4,187ft²).

The property has been let to L.E.A.D. IT Services Ltd on a new lease following a simultaneous lease surrender.

Darran Severn from FHP Property Consultants comments:

“We were initially instructed by the existing tenant to dispose of their unexpired lease.  They had several years remaining and were looking to limit their liability onwardly.  Following a comprehensive marketing campaign, we were pleasingly able to place property with L.E.A.D. IT Services who have taken a new lease releasing our client from their ongoing liability.  This was an excellent result for our client, L.E.A.D. IT Services and the landlord who benefitted by us securing a new long lease.

Sarah Thompson from L.E.A.D. IT Services comments:

“At L.E.A.D. IT Services, we’ve long awaited this move, and it’s been an incredibly fulfilling journey for our entire team. Our new building represents a milestone, offering us the ideal space in a fantastic location to support our expanding team and client base. In addition, the training room we now have creates avenues for us to engage in hands-on training and development for the schools and businesses we support, which has always been important to us. The next step involves working together on refurbishments, making it our very own, and paving the way for the exciting projects and opportunities that lie ahead in our future.”

There continues to be a general lack of office availability on Pride Park, particularly above 3,000ft², and we are still  speaking with a number of businesses looking for space on Pride Park.  If you are considering bringing your property to market please give us a call as we may already be speaking to the ideal tenant or buyer.

For further information on this letting, please contact Darran Severn on 07917 460 031 or darran@fhp.co.uk.

ENDS

Darran Severn

January 2024

It is evident that the occupier’s preference is high quality modern office spaces.  Due to the rise in hybrid working, occupiers are more likely to downsize their operations, but the increased popularity of Grade A office space is anticipated to continue as businesses seek to improve their work environment to attract top talent. Taking into consideration the new sustainability regulations that are coming into effect across Europe, occupier’s attention to quality, environmental standards, wellbeing, and energy performance certificate ratings has increased as they are looking to make conscious decisions and be prepared for the future.

The economic uncertainty is affecting occupiers’ decision making as we are witnessing higher demand for flexibility and a slight reluctance to commit to longer lease terms.  Due to that, there has also been a shift towards serviced offices with all-inclusive rents.  However, we are still witnessing success in the office market as occupiers continue to take on new space.  FHP has so far had multiple small office market completions in the last quarter of 2023 in both the city centre and surrounding areas.  We have successfully completed the sale of 23 Rectory Road, the letting of 2-4 Lister Gate and the letting of Unit 4 Castlebridge to April King Legal which brought the Castlebridge Office Village to full occupancy.  We are also expecting further completions before the end of the year.

The office market has been facing some challenging times in reference to the level of enquiries, but activity has been picking up in the last few weeks with the October enquiries demonstrating a 15% increase compared to the previous month.  The level of viewings also confirms the increase in activity as the number of viewings conducted in October has nearly doubled compared to the previous months.

For more information or to see how FHP can help you, please contact Ketlin Maeorg on 07929 673 232 / ketlin@fhp.co.uk.

FHP are pleased to announce the purchase of 23 Rectory Road by an Accountants firm, in West Bridgford. The property consisted of a semi-detached office building situated across three floors of cellular office accommodation with ample car parking to the rear. Benefiting from being situated within walking distance of West Bridgford Town Centre that provides a plethora of amenities, it was certainly going to be a popular sale.

23 Rectory Road was originally on the market on a leasehold basis in which it managed to achieve a rental of £20.00psf, the decision was then made to explore freehold options that proved to be popular. The level of interested on this property was stronger than anticipated and we received a strong level of offers. The property was well suited to a variety of uses, owner occupier, local investor or for residential redevelopment which was evident within the level of enquiries. We secured an excellent sale price for the subject property and managed to complete the sale within a reasonable time, allowing the purchasers to gain occupation and start their move across the road.

Amy Howard, Surveyor at FHP Property Consultants commented:

“This property is something I have been working on for some months now, given the initial leasehold route and then exploring the freehold option so I am delighted that we have now managed to complete on this sale.

Freehold stock in West Bridgford is a rarity so we always knew it was going to be popular, but it certainly generated a high level of enquiries which was positive to see and proves the freehold office market demand is still strong in the suburb areas of Nottingham.

The sale price achieved was a great result in the end for my client and it has been a pleasure to work alongside them, as well as help Bexon in their process of gaining a new office space.

West Bridgford continues to be a prestigious office location and the nearby town centre amenities continue to grow, with 200 Degrees Coffee and Sexy Mama being the newest member it certainly is a great location for office occupiers who wish to be outside the City Centre but still feel connected.’’

The retained client, commented:

“I was very pleased with the level of service shown by FHP Property Consultants, especially Amy who we worked closely with throughout. We regarded the price obtained as excellent in today’s market and fully approved of the professional way that matters were handled by FHP and brought to a swift and satisfactory conclusion”.

For further information, please feel free to contact myself on 07887 787894, alternatively you can email me at amy.howard@fhp.co.uk.

ENDS

Amy Howard

1^st December 2023

In less than a year since its completion, One Waterside Place has achieved full occupancy across all six floors of office space.

Owned by Chesterfield Borough Council, this flagship office development has seen the addition of Rosewood Wealth Management and another international company, both expanding their presence in Chesterfield.

These new occupants join BHP Chartered Accounts and Varley.

Rosewood Wealth Management is known for its professional financial services, offering a range of solutions, including financial reviews, mortgages, pensions, and investments.

The 35,000 sq ft office building in Chesterfield, offers spaces with amenities like lifts, air conditioning, and on-site cycle parking.

The development of One Waterside Place was led by local property development and investment firm Bolsterstone Group.

One Waterside Place sits within the £75m first phase of the Basin Square neighbourhood which includes a mixed-use development as part of the £340m Chesterfield Waterside regeneration scheme.

The canal basin’s development was supported by the South Yorkshire Combined Authority Infrastructure Fund.

Shannan Pool-Gorman, director and co-founder of Rosewood Wealth Management, said:

“Rosewood is proud to be part of the development at Basin Square. We are passionate about supporting the local area and look forward to playing our part in the next development phase for our beautiful town.”

Peter Swallow, managing director of Bolsterstone Group, said:

“One Waterside Place is a runaway success story having taken less than 12 months to fully let. When planning the commercial element of Chesterfield Waterside at Basin Square, we knew that the proximity of the train station would be a major pull for businesses. It has certainly been the case. We are now looking to deliver the next stages of Basin Square and anticipate similar success.”

Darran Severn of FHP Property Consultants comments:-

“We are extremely pleased to have been involved in the letting of these brand new Grade A offices in Chesterfield.  The building provides some of the best office space in the region with open plan floor plates, floor to ceiling windows and magnificent views across Chesterfield.  As a result we have been able to secure some excellent tenants for the building whilst setting a new high rent in Chesterfield.”

Knight Frank acted as joint agents alongside FHP Property Consultants.

For further information on this letting please contact Darran Severn on 07917 460 031 or darran@fhp.co.uk.

ENDS

November 2023

Pentagon House has been at the epicentre for office lettings in Derby over the past 12 months.  Earlier in the year we announced some 21,500ft² had been let in three separate deals.  We are now pleased to report that a further 8,592ft² has completed bringing two new tenants into the building which now achieves full occupancy.

Pentagon House is a high profile modern office building located in central Derby.  The offices are situated in a highly prominent position just off the A52 at Pentagon Island, fronting both Sir Frank Whittle Road and Stores Road.  The A52 and A61 provide excellent access around the city, the M1 and Junction 25 and the A38.

The building itself comprises an impressive four storey property extending to approximately 30,000ft² and provides newly refurbished accommodation with a modern reception and excellent parking.

Darran Severn of FHP Property Consultants comments: –

“Its great that we have achieved full occupancy at Pentagon House and even better, within a 12 month period.  The building offers high quality air conditioned accommodation with an excellent parking ratio of one space per 250ft^2.  The ground floor suite has been let for a term of 5 years whilst the suite on the second floor has been let on a short term basis to a company who are currently refurbishing their existing offices.  They will vacate in Q2 2024 and we are already in strong conversations with another Derby business to take this space. 

There has been good office activity throughout 2023 with the key drive being that tenants are looking for higher quality space with parking and close to amenities”.

For further information please contact joint agents Darran Severn of FHP Property Consultants on 07917 460 031 / darran@fhp.co.uk or Nick Hosking of Innes England.

ENDS

November 2023

Boundary Real Estate Partners (BREP) has secured a new letting at Granite House, the HQ building at Watermead Business Park, Leicester, marking the largest office letting in the city this year.

The new tenant, who will be relocating within the area, has taken the entire 25,000 sq ft first floor of the newly refurbished HQ building, to support its customer service operation.

Granite House has undergone a substantial transformation following its acquisition by Boundary in December 2021, as part of a wider portfolio in the area.  Over £1million has been invested into the property, delivering a new double height reception with feature staircase, full refurbishment of the welfare facilities and installation of shower facilities, plus other substantial upgrades to improve the EPC rating to B.

Granite House has one of the highest parking provisions provided in the East Midlands.  As part of this provision, Boundary has installed 20 EV charging points, with the infrastructure for 40, far higher than the average across the UK.  The team has also been working closely with Choose How You Move Leicester County Council to provide a grant for E-bikes to serve occupiers at Watermead Business Park.

Totalling 50,000 sq ft over two floors, the ground floor of Granite House is also occupied by Global Payments, housing its UK HQ, employing many people in the area.  The building is set on a large plot in the established business park which is located just off the A46 and A607 in between Thurmaston and Syston.

Rebecca Gregory of Boundary Real Estate Partners comments:

“The team have been working closely with our tenants at Watermead Business Park and wider stakeholders as part of our ongoing repositioning of the park and our plans for the wider area. The high-quality refurbishment of Granite House is part of our strategy to provide ‘best in class’ business space to meet occupier demand in the area, which carry over to our plans for Phase 2 of Watermead Business Park.”

Earlier this year, Boundary submitted plans to develop the land adjacent to Watermead Business Park, across the A406, allocated within the local plan, to provide a high-quality employment park.  The proposals for this former gravel sorting plant will bring the disused land back to life, providing further employment for the region.

Mark Tomlinson, Director at FHP who acted on behalf of landlords, BREP, at Watermead Business Park, comments:

“We have seen a drive towards quality among occupiers with a particular focus on lifestyle and wellbeing alongside the continued focus on energy efficiency, and it is important that the regional office market delivers office buildings to cater for these requirements. 

 “The landlords, BREP, were quick to recognise the repositioning potential of Granite House to meet occupier demand and we are delighted to have delivered this letting to the new occupier who will have a real standout office space here.”

FHP and CBRE are joint letting agents for Granite House.

FHP Property Consultants are delighted to bring this modern office building to the market situated in Holmewood, Chesterfield, S42 5US.  This prime location has the benefit of quick access to the A617 and M1 motorway within 2 miles of the building.

The self-contained office has been recently refurbished thus creating a great environment for a company to move into.  The accommodation compromises 3,951ft² with natural light throughout including open plan offices and meeting rooms.  There are 16 designated car parking spaces.  Kitchens and W/C’s are also within this modern office which has been finished to a very high standard.  The specification includes suspended ceilings with LED lighting, air conditioning, perimeter trunking, security grilles on ground floor windows, lift and intercom entry system.

Harry Gamble, surveyor at FHP Property Consultants commented:

“There are not many freehold offices on the market currently so this would be a great opportunity for a company to move into. With the office being refurbished, it offers everything that a tenant would want along with the 16 car parking spaces.  I welcome any enquiries about the office, and I can see it getting snapped up quickly!”

For any further information or would like to arrange a viewing, then please contact Harry Gamble on 07398 443828 / harry.gamble@fhp.co.uk or Darran Severn on 07917 460031 / darran@fhp.co.uk .

ENDS

September 2023

Having joined FHP Property Consultants approximately two months ago, I can truly say that I have loved every minute.  After leaving Ratcliffe College, I knew I wanted to pursue a career in commercial property, and I am now starting my degree apprenticeship course in Real Estate at Nottingham Trent University.  This gives me the opportunity to learn and study whilst gaining valuable hands-on experience in the workplace.  I will be working 4 days per week at FHP with 1 day spent at university.

At first, I didn’t know what to expect, but the support and kindness of everyone here has helped me settle in very easily.  Within my first two months, I have been working alongside Darran Severn and Corbin Archer based in our Derby office learning the ins and outs of the commercial property world. I will be working with the Office and industrial team but also assist the Retail team to greater my knowledge.  I will be able to take the skills and information learned from FHP Property Consultants into lectures and vice versa.

No two days are the same. I can be out taking photos, carrying out viewings, inspecting properties, ordering marketing boards or writing press releases.  I’ve already learnt how to measure units on both a GIA and NIA basis which is essential in this job.

The first property I visited was 4 Riverside Court, on Pride Park, where I met potential tenants who had an interest in renting the property. I thoroughly enjoy ringing potential occupiers as I can discuss their needs, offer suggestions on potential units we have to let and meeting them there for a viewing.  So far, I have pleasingly managed to agree a set of heads of terms and place two industrial/warehouse units at Amber Business Centre under offer.

If you require any assistance on either finding your ideal property or you are a landlord thinking of letting or selling your property, please contact Harry Gamble on 07398 443828 / harry.gamble@fhp.co.uk

ENDS

September 2023

What CEG have completed a letting of 20,000 sq ft in Nottingham

Why Tenant demand for bespoke fitted workspace increasing

What the occupier has inked a 10 year lease

CEG have secured a substantial office letting in Nottingham totalling 20,000 sq ft.  Equifax has taken a 20,000 sq ft bespoke workspace at East West on Maid Marian Way.

The company has agreed a 10 year lease for the space which will include more than 220 workstations including a mix of traditional desks, hot desks and sit-stand desks along with breakout spaces and meeting areas.  The 175,000 sq ft East West building has recently been upgraded with the adjacent Toll House pub now integrated into the development to provide a café and business lounge.  Further upgrades are planned for later in the year including improvements to glazing, lighting and heating as well as amenities including cycle storage and showers.

CEG have also secured Systra as a tenant for its 28 storey Alpha Tower.  Tom Gaynor, head of investment at CEG, said the company expected an increase in demand for its custom fitted service offering as more tenants explore leaner office footprints:

“By the end of the year, I think we will be delivering more than a hundred ‘let ready’ custom design and fit out deals a year, creating bespoke workspace for thousands of people.

 “Our in-house team of building and project managers know our buildings better than anyone. This enabling them to design the most efficient space, working in harmony with existing pipework, air/cooling system and fire constraints, often using the same contractor which delivered the Cat A, resulting in time and cost savings, as well as providing the most sustainable options.”

Mark Tomlinson, Director at property agent FHP, added:

“We’ve seen huge progress in the fully fitted office market, with new landlords moving into this space and widening the offer.

“Many businesses, particularly those finding it hard to predict growth or keen to offer flexible working practices, are looking for bespoke, high quality space which will help them attract and retain talent, rather than a traditional serviced office. They also don’t want a big capex outlay or the headache that comes with project managing the fit out.

“While it’s often the norm in the US for a landlord to step in and deliver fully fitted, custom designed and fitted space for a tenant, here we’ve sought a more traditional lease structure for deals. This is starting to change, in some cases this is driven by a US owned business expecting this model in the UK, but post covid, its risen as we’ve seen the office become a tool for recruitment.”

For further information on the current availability within East West please contact Mark Tomlinson on 07917 576 254 or  mark@fhp.co.uk.

In July 2023 I joined FHP’s Derby Office where I work on industrial, office and retail instructions across the region. I am currently in my second year of a Degree Apprenticeship in Real Estate at Nottingham Trent University, intending to graduate and qualify as a Chartered Surveyor. FHP will provide me with hands-on experience that will benefit my learning and development in my career in property.

Pentagon House is a high profile modern office building located in central Derby.  The offices are situated in a highly prominent position just off the A52 at Pentagon Island, fronting both Sir Frank Whittle Road and Stores Road.  The A52 and A61 provide excellent access around the city, the M1 and Junction 25 and the A38.

The building itself comprises an impressive four storey property extending to approximately 30,000ft² and provides newly refurbished office accommodation with a modern reception and excellent parking.

During the past twelve months, there has been excellent take up within the building, with some 21,500ft² being let.   This comprises three key deals, the most recent completing in July, where 12,674ft² has been let.  Not only is this one the largest lettings in Derby this year, but we have also seen a rental uplift of 10% to a headline figure £15.50 per ft²_.

Mark Roberts of Loxton Developments who own the building comments:

“Some 24 months ago we were hit by a number of lease expiries which coincided with the pandemic resulting in large voids at Pentagon House.  It was time to invest in the building and we have not only refurbished all the vacant suites to a high level but we have also invested in the building installing new atrium glazing and EV charging points for our tenants.  I am pleased to welcome our new tenants to the building and I wish them every success.”

Darran Severn of FHP Property Consultants comments:

“There has been good office demand in Derby throughout the first half of 2023 which is evident by the success at Pentagon House. The majority of space within in the city is being let to existing Derby businesses who are either downsizing, upsizing or generally looking to improve the quality of their space.” 

Nick Hosking of Innes England comments:

“Pentagon House has held a long standing reputation of offering the best quality multi-let office accommodation within Derby and it’s been pleasing to see that the recent capital investment into the building has re-enforced this position.  The recent  lettings have highlighted the continued demand for premium quality office space and we expect to see continued healthy demand for the remaining suites going forward.”

If you are currently seeking office space in Derby, there are a couple of suites remaining at Pentagon House ranging in size from 3,747ft² to 8,592ft².

For further information, please contact joint agents Darran Severn of FHP Property Consultants on 07917 460 031 / darran@fhp.co.uk or Nick Hosking of Innes England on 07855 423458 / nhosking@innes-england.com.

ENDS

July 2023

FHP are pleased to bring to market two new office suites on the popular Office Village, after achieving another successful letting at Units 5/6 Castlebridge to Frontline Recruitment with a speedy completion. Castlebridge Office Villages is set within Castle Marina which offers excellent complementary retail and leisure facilities, as well as providing good connectivity to tram and bus services. The Village is occupied by a variety of high quality tenants ABG Law, Cerca Magnetics, Avery Dennison and Transform Trust to name a few.

The property’s benefit from high quality self-contained open plan office accommodation situated across two levels, with an excellent level of onsite parking for both suites. With well presented comfort cooling and LED lighting throughout, also benefitting from additional amenities including showers and bike storages.

Amy Howard, Surveyor at FHP Property Consultants commented:

“I am excited to bring to more office suites to market on this popular office village, Castlebridge is an excellent office scheme and we have witnessed a number of successful lettings over the years which will hopefully with these two suites. The high quality finishes throughout and attractive ESG credentials will certainly entice occupiers, not to mention the benefit of designated car parking within such close situ to Nottingham City Centre. I am hopeful that we will be able to secure further high quality tenants to add to the diverse and popular scheme.’’

For further information, please feel free to contact myself on 07887 787894, alternatively you can email me at amy.howard@fhp.co.uk.

ENDS

Amy Howard

20^th July 2023

FHP are delighted to bring to market a new office suite situated at The Clock Tower, Talbot Street with close proximity to Nottingham City Centre populated by professional occupiers, medical consultants, solicitors and property professionals. The suite benefits from a plethora or nearby amenities including shops, cafes, bars and restaurants amongst others. Additionally, there are excellent nearby transport links including NET, bus routes and accessibility to Nottingham’s Train Station on-foot, and lies directly opposite to Crown Plaza Car Park.

The suite sits on the third floor of The Clock Tower and is accessed by lift, it has recently undergone an extensive refurbishment offering newly installed air conditioning throughout, LED lighting and grey carpet tiles, with a newly refurbished entrance area providing a highly professional standard throughout. It comprises 2,773ft² of office plan office accommodation with surrounding views and natural light throughout.

Amy Howard, Surveyor at FHP Property Consultants commented:

“This property has undergone an extensive level of refurbishment to meet occupier requirements and improve ESG credentials. We are witnessing a shift in preference within the office market, whereby occupiers are now seeking higher quality stock over quantity and this property provides just that. The suite benefits from nearby parking, as well as a plethora of amenities that Nottingham City Centre has to offer all within minutes’ walk.’’

I look forward to securing a tenant for my client on this suite and liaising with all occupiers currently in the market seeking office premises.

For further information, please feel free to contact myself on 07887 787894, alternatively you can email me at amy.howard@fhp.co.uk.

ENDS

Amy Howard

19^th July 2023

Wesley House comprises a four storey office building situated on St Michaels Lane, Derby and has recently been let by FHP Property Consultants.

The property provides a mix of open plan and cellular accommodation on all floors and benefits from undergoing  a recent refurbishment.  The property is situated a short walk from the city centre providing local amenities and also benefits from on site car parking for at least 7 vehicles.

The offices have been let on new lease terms to Imbue Ventures Limited.

Darran Severn of FHP Property Consultants comments:

“I am pleased this letting has completed and I wish the new tenant every success.  There is a real shortage of good quality office accommodation not only in Derby city centre, but also on Pride Park.  As a result we are speaking with a number of occupiers who are looking for presentable space similar to Wesley House.

With low supply, rents remain consistent with newly refurbished space available at a premium.” 

Simon Leonard from Imbue Ventures comments:-

“We are delighted to have completed which paves the way for our new home in the heart of the city centre.”

For further information on this letting please contact Darran Severn on 07917 460 031 or darran@fhp.co.uk.

ENDS

July 2023

I am on a placement year from Nottingham Trent University where I study Real Estate BSc (Hons). FHP is a great place for me to grow and learn as a surveyor, providing me with the opportunity to work within both agency teams, for the region’s leading market consultants, giving me a broad insight into the different sectors of the industry. The next 12 months at FHP will provide me with the perfect foundation to build my career on top of and I can’t wait to get started.

Leading consultancy firm Bentley Project Management will soon take up a new home at Ruddington Fields Business Park following the completion of works to revamp the space during the summer.

The firm, which is currently based in Lockington in Derbyshire, has taken some 5,278 sq ft of office space at Discovery House with plans to relocate during the summer months following a transformation being led by Arc Business Interiors.

Managing director Jonathon Bentley, said:

“2023 is an important year for us – we celebrate our 10 year anniversary in a few weeks time, and we have been taking the time to consider our strategy for growth as we move into our second decade with exciting plans to take the business forwards. 

Our new office location plays a key role in those plans and we are really looking forward to making the move once the transformation is complete later this year.  We’re working with the team at Arc Interiors at the moment to breathe new life into the space and create a workspace that reflects our ethos which is something we are really excited about.”

Work to revamp the space at Discovery House has now begun and will include a range of sustainable design elements including the use of recycled carpets throughout – with the existing flooring being recycled – and elements of biophilic design throughout.  The open floor plan will provide collaborative workspaces and meeting areas, social spaces as well as quiet ‘pods’ for meetings.

Andrew Hobson at Arc Business Interiors said:

“We are really pleased to be working alongside Bentley to deliver their vision for a modern and creative office space that really supports its ambitious plans over the coming months and years.  This is a real team effort and we are looking forward to seeing the concepts coming to life.”

Thomas Szymkiw of FHP oversaw the deal on the behalf of the landlord, Capita. He added:

“I am delighted to have assisted Bentley Project Management with their relocation and expansion at Discovery House.  The building will provide them with a stunning office in beautiful surroundings – close to Rushcliffe Country Park and all the fantastic amenities the town of Ruddington has to offer.

It was a pleasure to work with both landlord and tenant on the transaction and I wish the team at Bentley all the best of luck for the future.”

The Derby office market is somewhat split between its premier office park being Pride Park and the city centre.  Over the last 15 to 20 years much of the office take up in Derby has been on Pride Park but the city is beginning to fight back.  We are currently seeing substantial investment in both self-contained and multi let buildings within the city centre in a hope to attract businesses back to these areas.

Pride Park is still the primary choice for the majority of businesses we speak with and accommodation on Pride Park typically comprises standalone office buildings, ranging in size from 1,000ft² to those well over 20,000ft².  Some of these buildings are now close to 25 years in age and range in appearance and specification, some being refurbished to a modern day standard with raised floors, air conditioning and LED lighting, with others being somewhat dated.

There remains very little available stock on Pride Park and as a result we are ongoingly speaking with a number of established businesses that require offices in this location, some of which have been looking for 12 – 18 months plus.  There is clearly good demand at present due to this shortage in supply.  This was evident when we recently placed 4 Riverside Court on the market, which is a 4,208ft² detached office building.  We were able to secure a tenant within two weeks of marketing and unfortunately there were two additional businesses who missed out.  Rents remain at existing levels, typically between £12.50 per ft² and £16.50 per ft², but I see no reason why these shouldn’t start to increase.  In terms of capital values, we have seen stiff competition from owner occupiers and as a result we have seen some properties on Pride Park transact above £170 per ft².

Within the city centre there are a number of multi-let office buildings such as Cardinal Square and Pentagon House that have historically not been compared to accommodation on Pride Park.  Pleasingly both these buildings have seen significant investment over the past 12 – 18 months and offer excellent accommodation with parking.  These buildings also benefit from being within a short walk of Derby city centre which hosts excellent shopping facilities and a mix of national and local eateries.  We’ve seen extensive refurbishments at both buildings, not only internally but also we have seen glazing replaced, EV points installed and secret gardens created.  Fully refurbished suites are available from 13.00 per ft² to £15.50 per ft².

In addition to the large multi-let buildings, the city centre also hosts a number of smaller self-contained options albeit the majority of these are let or are occupier owned.  There are opportunities in this market, for example St Michael’s Court on St Michael’s Lane, which is now vacant, could be converted back into 5 smaller self-contained office units which I believe would be well received in today’s market on either a leasehold or freehold basis.

Over the past four to six weeks we have seen higher enquiry levels compared with the first quarter of the year, which is extremely positive.  This has led to proposals recently being issued on around 65,000ft² of office accommodation across Derbyshire.  Whilst not all these will result in transactions it is a very promising outlook.  The general sentiment continues that office occupies are seeking better quality accommodation with collaborative zones and break out areas.  In turn this increases wellbeing and productivity whilst driving some homeworkers back to the office.

For further information or to discuss your office requirement, then please do not hesitate to contact Darran Severn of FHP Property Consultants on 07917 460 031 / darran@fhp.co.uk.

ENDS

April 2023

A £4 million investment to refurbish the EastWest building at City Gate East in Nottingham helped the building achieve a rent of £24.50 per square foot.

The 19,045-square-feet letting to Equifax set a new benchmark for office rents in the city and earned a CoStar Impact Award in the category lease of the year. Broker Mark Tomlinson, a director at FHP Property Consultants, advised developer CEG on the letting.

The judges were impressed by how the refurbishment had transformed a second-hand office building into attractive, modern, quality workspace with thought paid to work-life balance. Properties like the EastWest building will help attract employees to the city centres, which is vital to the economy.

Developer CEG rebuilt the existing building, a short walk from Nottingham’s railway station, to cut the carbon footprint, adding new secondary glazing, variant refrigerant flow heating and cooling, and movement-controlled LED lighting.

“Supply of good quality office space in Nottingham is low and EastWest stands alone in its ability to offer its tenants a superb onsite business lounge café for informal meetings, hosting client events, staff breakout and workspaces,” said Tomlinson.

The move to the EastWest building marked an expansion for Equifax and its RDX Group and is the largest letting in the 160,000-square-foot building.

About the project:

Mark Tomlinson, a director at FHP Property Consultants, brokered a 19,045-square-feet lease in the East West building for CEG.

What the judges said:

“It’s encouraging to see how a mid 20th century office building can be transformed, through cutting edge contemporary refurbishment, to offer more attractive modern, quality workspace. This investment has paid dividends, evidenced by the successful,” said Keith Lown, head of department – property management and development at Nottingham Trent University.

On behalf of private clients, FHP Property Consultants are delighted to bring to market Unit 28 The Village, Maisies Way, South Normanton.

The building is well located ½ mile from Junction 28 of the M1 motorway at its intersection with the A38 dual carriageway giving excellent road access throughout the Midlands.  The property comprises a modern two storey, terraced brick built office building.  Internally it benefits from open plan office accommodation with glass partitioned rooms, a kitchenette and air conditioning throughout.

Corbin Archer of FHP Property Consultants comments:

“This is a great opportunity to acquire your own modern self-contained office building situated so close to the M1 motorway.  The office space is an open plan collaborative workspace with the option to fit out the building to suit your business needs and create multiple working destinations. The office is available to let on new lease terms at a rent of £28,607 per annum.  It is also available to purchase with the price being available upon application.  If you are interested in this office space then please contact me on the details below.”

For further information on this property please contact Corbin Archer on 07929 716 330 / corbin.archer@fhp.co.uk.

ENDS

Corbin Archer

April 2023

Ventro Ltd and Hire Giant Ltd are the newest tenants at Innovate Mews, a small business park located within minutes of J27, of the M1 providing excellent connectivity. The units comprise circa 1,500 sq. ft of office accommodation situation across two floors with designated car parking spaces. Innovate Mews is situated within an established office / industrial location and benefits from a mixture of occupiers, both local and regional.

FHP are delighted to have secured both tenants with one deal being an off-market transaction and the other securing the tenant within the second week of marketing. Both occupiers have settled into the units well and it is great to see the block of offices at full occupancy again.

Amy Howard, Surveyor at FHP Property Consultants commented:

“With securing an off-market deal I was apprehensive to see if we would get the same result at Unit 1, especially given the level of office stock available within close vicinity to the subject property. It was a great result on both units for my client and I am delighted that both deals have now completed.

The level of enquiries remained strong throughout the duration of Unit 1 being advertised as ‘Under Offer’ so there is certainly demand in the out-of-town business parks within the sub-3,000 sq. ft sector. I wish both Hire Giant and Ventro Group all the best in their future endeavours.”

Our retained client commented:

“As a remote landlord I rely totally on FHP to find new commercial tenants and manage my property. Amy Howard managed 2 lettings for me recently – both negotiated successfully. She is commercial, responsive and gets results.”

If you are looking to dispose of your leasehold out-of-town office units, please feel free to contact myself on 07887 787894 / alternatively, you can email me at amy.howard@fhp.co.uk.

ENDS

30 March 2023

RH Commercial Vehicles have recently secured Birkbeck House on Phoenix Business Park in Nottingham as their new Head Office facility.

Founded in 1977, the company operates from facilities in Nottingham, Leicester, Peterborough, Northampton, Alfreton and Newark and due to their continued expansion, required further office space close to their main dealership on Blenheim Industrial Estate.

The 4,912 sq ft building was recently sold by FHP with our clients undertaking a high specification refurbishment providing two, open plan floorplates with top quality fixtures and fittings including heating / cooling provision, LED lighting, brand new welfare facilities and the benefit of a substantial on-site car parking facility. Phoenix Business Park itself is located within easy reach of the A610 trunk road – providing fantastic access to both Nottingham and the M1, with a NET Tram Terminus and Park & Ride on site.

Thomas Szymkiw of FHP’s Office Agency Department commented:

“It was a pleasure to work with both Landlord and Tenant on this transaction with both parties working towards completing the deal quickly and efficiently, enabling occupation within tight timescales.

As soon as I was aware of RH Commercial Vehicle’s requirement, I knew that the building would be suitable due to it providing the high quality offices that they were seeking – with the location additionally in perfect close proximity to their main dealership on Blenheim Industrial Estate and Nottingham/M1.

We were just about to formally launch the marketing of the property – so it really was a case of good timing for both parties – and therefore it just goes to show if you considering your options, please do get in touch as we have opportunities both on and coming to the market that could be of interest.”

For more information on this transaction, or for an informal discussion in regards to your office requirements please do get it touch with Thomas Szymkiw on 07896 035 805 or thomas@fhp.co.uk.

On behalf of private clients, FHP Property Consultants are pleased to offer to market the leasehold interest of 4 Riverside Court, Pride Park, Derby, DE24 8JN.

The property comprises a two storey detached office building extending to approximately 4,208ft² and benefits from excellent parking for up to 16 vehicles.  The accommodation provides a mix of cellular and open plan office space and benefits from a reception entrance and a single height roller shutter loading door with ancillary storage space.

The offices are located on Pride Park within a comfortable walking distance of Derby rail station and the Wyvern Retail Business Park.

Darran Severn of FHP Property Consultants comments:

“I am pleased to bring this opportunity to market.  We have been experiencing a shortage of good quality available office properties on Pride Park over the last 12 months and I therefore feel this will be well received in the market.  The property offers good quality office accommodation in an excellent location and as a result we have already shown a number of seriously interested parties around. 

The offices are available by way of a sub-lease for a period of 3 years but a new lease may be available subject to covenant.  I look forward to speaking with any interested parties.”

For further information or to arrange a viewing, then please contact Darran Severn on  07917 460 031 / darran@fhp.co.uk or Jamie Gilbertson on 07398 443 828 / jamie.gilbertson@fhp.co.uk.

ENDS

March 2023

FHP are delighted to bring to the market Wesley House which is located within a short walking distance of Derby city centre.  It is just off the A601 in Derby city centre, approximately 8 miles west of Junction 25 of the M1 Motorway, via the A52.

The property provides a good quality four storey semi-detached office building of 3,466ft² with a central entrance providing accommodation on all floors with lift access. There is a mixture of open plan and cellular accommodation throughout with a kitchenette and W/C on each floor.

Corbin Archer of FHP Property Consultants comments:

“I am happy to bring this property to market as there are not many stand-alone offices available in Derby, especially ones of this specification and location as it is only a short walk from the city centre. This office will enable a business to have their own logo on the front of the building and to decorate the building to suit their business needs, offering a rare opportunity in today’s office market.

The property is available to let for £45,000 per annum and on a floor-by-floor basis subject to covenant strength. I often speak to businesses who are looking for good quality office space close to the city centre and therefore I expect to receive many enquiries on this office, so act fast and contact me on the details below.”

For further information or to arrange a viewing, please contact Corbin Archer on 07929 716330 or email corbin.archer@fhp.co.uk or Darran Severn on 07917 460031 or email darran@fhp.co.uk

ENDS

February 2023

Almost 50,000 sq ft of office space has been let at East West in Nottingham following a £4m redevelopment of the building.

Equifax has taken 19,045 sq ft across the entire 5th floor of the huge office development on Maid Marian Way, with CEG set to deliver a bespoke fit out on the company’s behalf.  Impero and Turner and Townsend have taken 3,345 sq ft and 4,260 sq ft respectively, while Worldwide Clinical Trials group has taken 10,500 sq ft of newly refurbished space at the scheme.  Faithful & Gould, Pick Everard and KPMG have all move into smaller offices in the 175,000 sq ft building.

The adjacent Toll House pub has been integrated into the development, providing a café bistro and business lounge. This first phase of redevelopment delivered by CEG also includes a new reception area to the east building, as well as glazing, lighting, heating and ventilation improvements and new cycling facilities, showers, drying room and lockers.

East West is one of the city’s most prominent office schemes, with existing tenants including Nottingham Trent University, Arup, JLL, Scape Group and RSM.

Alex Goode, investment manager at CEG, said:

“East West has been transformed to respond to businesses wanting healthy, sustainable and productive space that will help to attract and retain the best talent.  We are delighted to welcome seven new tenants and, although the building is so popular, we do have some suites from 1,900 to 20,000 sq ft available over the coming months, ready for bespoke fit out, the costs for which can be managed as part of the flexible rent package to reduce an occupier’s capital outlay.”

The development is being marketed by FHP on behalf of CEG.  Mark Tomlinson, director at FHP, said:

“We continue to see strong demand for the very best quality office spaces with many occupiers now seeking to improve the quality of their office environments. Supply of good quality office space in Nottingham is low and East West stands alone in its ability to offer its Tenants a superb onsite business lounge café for informal meetings, hosting client events, staff breakout and workspaces. I’m delighted to say that we are due to bring forward more space within the building in 2023.”

For further information on the current availability within East West please contact Mark Tomlinson on 07917 576 254 or  mark@fhp.co.uk.

Don’t miss out on this opportunity to purchase your own office premises just minutes away from the M1 Motorway. The office is located in the Key Point Office Village which is situated just off the A38 leading directly to Junction 28 of the M1 Motorway.

The property is a good quality self-contained office building arranged over two floors with breakout rooms to help promote a collaborative work environment. The property benefits from five car park spaces, an intercom entry system and two W/C’s.  The property is available to purchase at a price of £245,000.

Corbin Archer of FHP Property Consultants comments:

“I am happy to be bringing this property to market as it is not very often an office becomes available to purchase, especially of this standard and location.  I expect to receive a lot of enquiries on it as it is currently the only freehold office we have available in Derbyshire to purchase.  Over the last 12 months freehold properties have sold really well and I look forward to speaking to interested parties.”

For further information or to arrange a viewing, please contact Corbin Archer on 07929 716330 or email corbin.archer@fhp.co.uk or Darran Severn on 07917 460031 or email darran@fhp.co.uk.

ENDS

January 2023

FHP Property Consultants are pleased to bring to the market Unit 17, The Village, situated on Maisies Way providing excellent connectivity to J28, M1 and offering links throughout the Midlands and UK. The well-established business park includes a range of well-known occupiers and is well-served by nearby local amenities.

The property comprises 8,289 sq. ft of good quality office space across ground and first floor accommodation, subject to be refurbished to a high-quality fit-out. The unit benefits from a double height entrance / reception area, with lift access and 34 designated car parking spaces. Air conditioning is fitted throughout, with kitchen and WC facilities on both floors offering a shower facility on the ground floor.

Amy Howard, Surveyor at FHP Property Consultants commented:

“We are excited to bring Unit 17 The Village onto the market, especially with the good level of traction we have received over the years along the A38 corridor on both office and industrial units.

The site offers a great opportunity for a nearby occupier looking to expand or alternatively, our client would be happy to split the unit and offer accommodation on a floor-by-floor basis. With the property subject to refurbishment, it allows any potentially interested party to work alongside the landlord during the initial discussions.

I look forward to speaking with potential new tenants and securing an occupier for our client. If you are interested in Unit 17, The Village and wish to arrange a viewing, please feel free to contact us.”

For further information, please contact Amy Howard on 07887 787894 or email amy.howard@fhp.co.uk or our joint agent Peter Whiteley at Knight Frank on 07979 530 416 or email peter.whiteley@knightfrank.com.

ENDS

Amy Howard

24 January 2023

FHP are delighted to bring to the market a new serviced office scheme situated in the heart of Nottingham’s Professional Quarter, just a few minutes’ walk to the City Centre which offers a plethora of amenities. As well as being situated with good access links, in close proximity to Nottingham’s Train Station, bus and NET routes.

14 Regent Street has recently undergone a refurbishment offering high quality office space situated across 5 floors with parking available for a select few occupiers. The suites are available from a range of different sizes, between 227 sq. ft to 3,047 sq. ft of furnished office space, and we are quoting a rent of £40 per ft².

Amy Howard, Surveyor at FHP Property Consultants Commented:

“I am excited to work alongside our client in securing them a number of tenants at 14 Regent Street with the hope of achieving full occupancy in the next few months. The suites are attractive to a range of different occupiers, including small start-up businesses.

We are seeing the enquiries for smaller office units increase due to issues such as energy prices rising, along with several other factors. Serviced offices are a quick fix to these issues and it provides occupiers with the comfort of flexible leases on an all-inclusive basis.

If you are interested in the above and wish to have further details on this, please contact myself on 07887 787894 / amy.howard@fhp.co.uk or alternatively, you can email our joint agent Charlotte Steggles at NG-CS at charlotte@ng-cs.com.”

In contrast to some opinion in regards to the future of the office, the East Midlands market has witnessed good levels of activity in 2022 with FHP agreeing 105 deals, representing some 357,000 sq ft of space across the region.

It is apparent whilst delving into these figures in a bit more detail that in a continuation of the changing attitudes towards the sector as a result of the Covid 19 pandemic, downsizing and demand for quality have been the real key drivers in the market – with 75% of these deals agreed being below 4,000 sq ft and over 70% of those being of high quality. We would expect the proportion of occupiers taking ‘Grade A’ spaces to be higher still if the quality of office supply in the region was there to match occupier demand.

Additionally, a more flexible hybrid working model is also influencing occupiers’ locations and property preferences with some attracted to the accessible business parks on the periphery of the core towns and cities – whilst others are downsizing to smaller hubs in the city centres which act as a focal point destination for both employee collaboration and meetings.

Although decision making still remains slow in the larger end of the market, whilst occupiers continue to assess their occupational space requirements, there has pleasingly still been traction this year too – with 8 key deals completed by FHP on floorplates and buildings over 10,000 sq ft within both the city centres and business parks. There is also a real focus within this sector on environmental performance and adhering to MEES recommendations with many occupiers stipulating that their buildings must at the very least have a ‘B’ EPC rating.

Whatever the type of property or location, our advice to clients remains the same – occupiers are seeking ‘best in class’ opportunities and when quality is provided to the market, positive results generally follow. There is no better example of this than at CEG’s East West scheme in Nottingham City Centre where FHP have agreed over 45,000 sq ft of lettings in 2022, with the quality of the refurbishment which incorporates an onsite business lounge café being popular with occupiers seeking to improve the quality of their working environments and amenities provided to clients and staff.

This is also reflected in a noticeable uplift in both rents and capital values in these ‘high quality’ options providing the evidence that refurbishing and remodelling to suit what is fast becoming a more ‘life-style’ office market is the way forward.

Successful refurbishments in this regard have understood the importance of providing a real sense of arrival with many incorporating feature reception / communal areas including welfare facilities such as a ‘barista-style’ café’s, gyms and informal meeting spaces to add to their offering – which for occupiers, these added benefits have just as much significance to their decision making as the office space itself.   These not only provide a fantastic working environment that encourage their staff into the office, but also a key sales tool in what is an ever-competitive recruitment market.

Looking into the new year, I would predict more of the same – with the activity in the market focusing on quality not quantity, with ESG credentials becoming ever more important due to the changes in EPC regulations – and I am, as always looking forward to assisting both clients and occupiers alike with their requirements moving forwards into 2023.

ENDS

Thomas Szymkiw

Date: 8 December 2022

High quality refurbished office space in Nottingham City Centre is becoming increasingly rare – and the letting of the Second Floor at The Imperial Buildings to engineering consultancy company CPW is just another shining example that when presentation to the market is done right – fantastic results will follow.

The offices had been previously occupied by a local architect’s practice for a number of years and therefore required a full modernisation programme.  With our guidance, we advised our clients to undertake a comprehensive refurbishment of the space that would be suitable for the needs of occupiers going forwards post-pandemic.  The new fit out included exposed services, feature drop down LED lighting, brand new heating/cooling system, a full refurbishment of the WC’s/shower facilities with a strip out of the partitioning to return to open plan and redecoration/new flooring finishes.

CPW have improved on this further, installing a stunning internal glazed meeting space and large kitchen/break-out area – all of which now provide them with a fantastic, modern working environment within a beautiful period building in the heart of the City Centre.

Thomas Szymkiw, Associate Director at FHP Property Consultants commented:

“It’s been a pleasure to assist CPW with their requirement for a new Nottingham office and I am delighted that they have chosen the Imperial Buildings as their new home – after visiting them post moving in there sure is a real buzz about the place and I wish them all the best of luck for the future.”

For further information on this letting or to discuss your office requirements in further detail, please do not hesitate to contact Thomas Szymkiw of FHP’s Office Department on 07896 035 805 or thomas@fhp.co.uk.

The fantastic ‘loft-style’ Fourth Floor office at the popular 34 Stoney Street has been let in a deal brokered by Thomas Szymkiw, office agent at FHP Property Consultants.

The circa 1,400 sq ft suite provides Budgeting Solutions a unique opportunity to acquire a high quality fully refurbished space within the roof eaves of this historic Grade II former Lace Mill.  The refurbishment included a full strip out with the installation of LED lighting, heating and cooling system, brand new kitchenette, WC’s and some really clever glass partition work between the roof trusses to create independent meeting spaces.

Thomas Szymkiw, Associate Director at FHP commented:

“This letting completes the final piece of the jigsaw for our clients who from acquisition of the property have undertaken a full and substantial refurbishment – sympathetically looking after its historic and period features whilst modernising the internal suites to the new tenants exacting specifications.

It just goes to show that in the current market occupiers are demanding quality and when this is delivered – fantastic results will follow.

It’s great news for the Lace Market office scene to have this building now fully let and I wish Paul at Budgeting Solutions and all the tenants the best of luck for the future.”

Paul Bavington, of Budgeting Solutions commented:

It’s been great working with Thomas/FHP on structuring the right deal with the landlord and being involved in specifying the fit out to ensure we created a workspace designed for hybrid working.

As a fast growing technology business, this space will enable colleagues and clients alike to embrace true digital working patterns.”

For further information on the Nottingham office market, or to discuss your requirements please give Thomas Szymkiw a call on 07896 035 805 or thomas@fhp.co.uk.